Which of the Following Is not a Feature of a 529

question 28

Multiple Choice

Which of the following is not a feature of a 529 Plan?

• A) Withdrawals for nonqualified expenses are prohibited.
• B) The contributor owns the account.
• C) The account owner can change the beneficiary.
• D) The account owner determines the investment strategy.

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Definitions:

Current Liabilities

Short-term financial obligations due within one year or within the normal operating cycle of a business, such as accounts payable and short-term loans.

Current Market Value

The most recent price at which an asset or service can be bought or sold in a competitive marketplace.

Historical Cost

The original monetary value of an asset or transaction, used as a basis for accounting and not adjusted for inflation.

Retained Earnings

The portion of net income not distributed as dividends but retained by the company to be reinvested in its core business or to pay debt.